Wall Street Lost Its Way
When Evaluating Net Stocks

Updated Jan. 27, 2004 8:57 a.m. ET

In the 1990s, the stock market raced ever higher, spurred on by the Internet boom. But as that run-up and the subsequent bust that followed it showed, a lot of the gains were based on such flimsy premises that in hindsight the rally should really be described as stock mania.

Roger Lowenstein, a former reporter with The Wall Street Journal and SmartMoney magazine, looks at the labyrinthine events of the period, including the collapse of Enron, the dot-com bubble, the accounting scandal at Andersen and much more in his new...